Here’s Where Wells Fargo & Co Is Looking for Its Next Big Buy

Where is Wells Fargo looking for its next big purchase?

Matt Koppenheffer
Matt Koppenheffer
Apr 19, 2014 at 11:00AM

During the conference call from Wells Fargo (NYSE:WFC) this quarter, CEO John Stumpf discussed the continuing strength of the bank's deposit franchise, which saw total deposits grow $83.8 billion, or 8%. Even more importantly however was Wells Fargo's ability to leverage its existing deposit base, reaching record cross-sell of its products in its retail banking sector, its wholesale banking sector, and its wealth, brokerage and retirement sector.

In this segment from Monday's Where the Money Is, Motley Fool financial analyst Matt Koppenheffer looks at where growth by acquisition may come from next for Wells Fargo. He highlights more remarks from the conference call suggesting that there are strong bolt-on businesses to look into that could further leverage several of the bank's fee-based businesses from its deposit franchise. Matt also discusses how much value a payments business can add to other banks at the moment, such as US Bancorp (NYSE:USB).